Title: Mastering the Art of Writing a Global Business Strategy Literature Review

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International strategies are business plans or strategies developed by a company to expand its
international operations. When creating a new account, you will be prompted to enter a personal
account information. I am reviewing 15 pieces on Competitive Advantage Theory from the period
1991 to 2003. They have given such answer based on their own analysis that by expanding business
at the global level has achieved tremendous growth within a specific period of time. Local
responsiveness is the degree to which the company must customize their products and methods to
meet conditions in other countries. This includes any reliable source like the internet, oral history,
documents, records, books and journals which had gone through deep analysis. The first strategy is
to concentrate on operations in a single country for a multinational corporation. And companies that
have formal strategic planning processes have the highest level of satisfaction with corporate strategy
development. Although each strategy is distinguished by its own set of characteristics, they all serve
as a distinctive approach to internationalization. Consumers have instant access to price information
and product information. Being a manufacturing and services center in a number of areas in the
global outsourcing business, Malaysia needs to adapt to become more specialized, by identifying
strong niches and subsectors to serve of the global market. Most supporters of SOOT admit that it
should be combined with other strategic management tools like Porter’s five forces and not used in
isolation. As a result, these international production networks are highly complex regarding
geography, technology, and the different types of firms involved (from large retailers and highly
large-scale mechanised manufacturers to small home-based production). Porter was very specific in
defining competitive advantage as price advantage versus rivals. It may be related to changes in your
industry, more effective management of your team, or how to get your ideas or suggestions more
readily accepted and implemented. By carefully considering the needs and preferences of the local
market, and adapting their products and marketing efforts accordingly, companies can successfully
enter and thrive in new markets around the world. Along with refining, it also functions in two other
segments namely retail and ethanol. Strategic planning, strategic planning frameworks and strategy
implementation issues are discussed both from a historical and modern perspective. Without them,
some or all of the provided services may not function optimally. Apart from this, Lane, (2017) stated
that it also increases the competition pressure off globalization which may also prompt improved the
governance and better labour protections. An international company focuses its efforts on a single
country or region in order to achieve multi-domestic objectives. There was an increase in the
industrialization and there was thoughts to use machines rather than peoples so, it can be more cheap
to work. Michael Porters frameworks and generic strategy provide an excellent backdrop for
formulation of strategy but scholars argue that the current environment of business may require new
or altered frameworks. Overall, it also helps to generate more revenue, as on the other side,
companies that have saturated their local market and dried up the growth opportunities can turn to
global expansion and grow their business as well. In addition to this, using digital marketing is
another way which can be used by Grupo Intercom where the quoted firm makes its online presence
and introduce the services through mobile app and online marketing. Research philosophy Research
philosophy under the research methodology defines the belief over the manners in which data
relevant for the research topic must be collected for the given phenomenon developed under the
research approach. McDonald’s and Pizza Hut are two good examples of how to expand through
effective global strategies. To boost global visibility, strategies for transborder operations move
operations between countries. In addition to this, I also faced issues in conducting the in-depth study
due to lack of time as well as resources. I own a positive outlook towards life and also give
motivational speeches for young kids and college students.
This is also supported by the current position Malaysia finds itself in today, which is not able to
compete with China, India and Vietnam in cheap production bases, not it is able to rise to the level of
Singapore as a high-end market and services provider. Search through books, magazines, journals,
government records and other sources that will enable you to maximize the importance of your
research. Managers can learn much from Porter, but to survive in the age of millennial billionaires,
leaders may need to develop new frameworks. Kim, Name, and Stripers (2004) evaluated
differentiation within the context of e-commerce. Marketing research had found that it is eight to
(Akin et al. 006). Organizations must have insight into the future in order to manage and drive
profitability and this should be a key component of the strategic planning process. CHAPTER 5
Conclusion and recommendations It has been concluded from the report that globalisation has a
positive effect on the growth of the organisation. This is due to the reason business issues could vary
worldwide. Our fundamental argument is that organizational learning is a strategic capability and
that resource-based theory must be able to incorporate organizational learning if it is to explain
adequately the process of achieving sustainable competitive advantage. Customers will spend their
money with the company that has the superior value proposition. On the other side, Perlas (2019)
argues that only globalization has equalized the international playing field and generate revenue as
well. In order to get the most bang for your buck, you should consider the needs of your local
members as well as the characteristics of the association initiatives that will benefit them. The
literature revealed that SOOT was the most commonly utilized strategic management tool well into
the late nineties. The internet seems to defy many of the historical perspectives on business strategy.
This makes a clear difference in what is right and what is wrong and Ethics are the norms, standards,
laws and rules in conducting the research on the topic. The objective of the present study is to
conduct a detailed analysis of the Nestle company's business strategy at the corporate level. Theme
2: Globalization has a direct effect on the growth of an organization. Ques 2. How much agree you
are with the statement that globalisation has a direct effect on the growth of an organisation. Lane,
J.E., 2017. Globalization and politics: Promises and dangers. Routledge. Qualitative data analysis is
based on theoretical concepts while quantitative analysis of data is based on numerical data. In
addition to domestic and global strategies, a transborder business strategy encompasses elements of
both. Classical management assumes that internal and external factors have an equal fit. It is
important to understand why people attend events and performances in order to market to the
appropriate target effectively. I would recommend that all companies interested in international
business to apply foreign direct investment so that both countries may benefit from the rewards
therein. Yes 13 No 2 Might be 5 Interpretation: From the above diagram it has been analyzed that out
of 20, there are 13 people perceives that globalization is the best strategy for fostering business
growth. The economic collapse of the last decade contributed to frustration with corporations as
companies in the banking sector were largely blamed for causing the failed economy though risky
lending practices. Moreover, it also focuses on the global business strategy attempted by Valero
Energy Corporation to expand its operations in foreign markets. This is because it may result in non-
uniform relationships, by enhancing the risks of the business (The World Bank, 2010). In this,
questions of research and method of analysis were applied to make them answerable. Moreover,
modern equipments are also extremely necessary to maintain a safe and a secure working
environment for the employees of an organisation, which can lead to amplification of their
enthusiasm and perseverance towards work. Malaysian companies are also encouraged to ready for
changing nature of competitive landscape in the eve of the Transatlantic Trade and Investment
Partnership (TTIP). Besides, due to certain industry based challenges, the economical opulence of
refined oil is diminishing at a rapid pace (Scribd, n.d.). Implementation of various government rules
and regulations has resulted in increment of the prices of refined products, which has reduced its
demand in global emerging markets.
If a company pursues a global strategy, it has the advantage over other businesses that only pursue a
domestic or local strategy. In order to retain the capable employees, Valero also offers competitive
salary along with performance based rewards (Valero Marketing and Supply Company, 2012). The
information and data have been collected which are expressed by other people to reach an effective
outcome of this research study. For the present research interpretivism research philosophy has been
used to identify the available opportunities for growth to the company Grupo Intercom in the UK.
There are also political implications since government regulators have the power to influence market
dynamics between rivals as well as between countries. Establishing a global strategy could give your
business advantages, including creating deals in new marketplaces and advancing product awareness
globally. Porter’s Five Forces Porter is most well known for the association of competition with the
firm and its external environment. According to you which is the best strategy that can be adopted
by Grupo Intercom for launching a product into the international market. For example, about thirty
years ago, Brazil had very few deodorants in the market, its current sales there, is 400 million Euro.
With each framework comes a myriad of academic scholars that have created, critiqued, or built the
frameworks in positive ways. The CEO must have the effective communication skills required to
assure that the managers understand the vision, strategy, and corporate culture. Another significant
research study which contributes to the knowledge available for the retail industry pertains to the
different operations of the retailers in terms of the services they provide to niche markets. When a
multinational company like Adobe establishes a strong global brand and expands its operations into
new countries, the company is successful. Ford is producing a “world car” that has many common
platform elements that accommodate a range of add-ons. Add Links Send readers directly to specific
items or pages with shopping and web links. Much of the current understanding of strategic
management can be traced back to Porter’s (1985) low cost, differentiation, focus framework. Focus
Strategy. Focus strategy is when firms decide to focus on a specific segment of the market. This can
be possible only by offering diesel products as well to its customers, which might augment the
portfolio of its brand along with uniqueness. It is required in order to analyse the global strategy
adopted by Valero to expand its business actions. The management of this valuable resource in
higher educational institutions (HEI’s) in Nigeria remains even more tasking and challenging than
managing other material resources such as finance, technology and etc. In order to acquire a clear
apprehension of precisely what literature is. we. GIFs Highlight your latest work via email or social
media with custom GIFs. Using social media, Grupo Intercom also keeps updating their customers
regarding the services and attract a wide range of customers towards them as well. Nowadays, many
contractors are making investing to building undertaking to gain their net incomes. Although RBV is
considered one of the most influential theories of strategic management, this paper unveils the
empirical evidence of resource rarity on sustainable competitiveness in the service industry
(universities). Reported failure rates vary from a high of more than 9 per cent per annum to a low of
less than 1 per cent per annum depending on the choice of failure definition. This will also assist the
organisation in decreasing production costs, thereby increasing the profit. Scale economies occur
when the organisation practices minimised costs to increase efficiency and productivity. For this,
every aspect related to strategy is discussed. Strategy is largely defined by adaptation to a constantly
changing marketplace which seems to get more and more complex.
You can download the paper by clicking the button above. It also highlights the varied assets and
resources of the organisation, which has helped in expanding its functions in global markets.
Establishing a global strategy could give your business advantages, including creating deals in new
marketplaces and advancing product awareness globally. Machines tools and equipment or
information technologies are universal and need little customization for local conditions. In a
company with a multidomestic strategy, overall management is centralized in the home country but
country managers are given latitude to make adaptations. Managing tactics that work and large
investment costs are two of the most difficult aspects of the transnational strategy. There should be
some risk in the strategy and boards should not prevent management from taking risks in setting
strategy. Performance evaluations are created to deliberate job performance, set objectives for
professional growth, create objectives for contributing to the division's duty and to deliberate
potentials and achievements. The word strategy is derived from the Greek strategies, which means
the art of the general. If you refuse cookies we will remove all set cookies in our domain. Moreover,
modern equipments are also extremely necessary to maintain a safe and a secure working
environment for the employees of an organisation, which can lead to amplification of their
enthusiasm and perseverance towards work. The internet has the ability to service both broad
markets and very niche markets. It would enhance customer satisfaction and loyalty, which is
extremely essential for Valero to maintain its functions in worldwide markets. All of this generates
substantial 4 — Distributing business risks A gain in one country might offset a loss in one nation. In
addition, they carry out extensive operations throughout numerous nations, for which they need a
sizable human resource. Even the local culture also affected by it as well, it is the result of opening
up the global economy and also increases the sales or trade between two or many nations. In this,
questions of research and method of analysis were applied to make them answerable. Researcher
adheres to all the acts such as Data protection, privacy etc. Theme 2: To determine that globalization
is important for Grupo Intercom As globalization main aim is to gain a high competitive advantage
in the market and in the same way, Grupo Intercom also wants to expand its services at a global
level. To gain a competitive advantage, a company must first understand its business infrastructure in
a specific market. The goal behind the case study approach is not to simply provide solutions, but it
lies in the collective process of brainstorming, exchanging various point of views, providing the
necessary reasoning for various positions held, interchange of perspectives, improving analytical
abilities, exercising decision-making and developing leadership abilities, and most importantly
building on various collective ideas presented in the process of discussion. It is true that in order to
reap the benefits, executives must run these businesses in a shrewd manner. A good international
expansion plan should include details about how an unknown brand will grow into an industry
player. This study aims to examine and explain the influence of Relative Advantage, Compatibility,
Organizational Readiness, Management Support and External Pressure on the Use of E-Commerce, 2
the effect of the use of E-Commerce on Knowledge Management, 3 the effect of use of E-
Commerce and Knowledge Management on Organizational Performance. This would help Valero to
extend its operations through the approach of acquisition resulting in higher returns and operational
effectiveness. An international company focuses its efforts on a single country or region in order to
achieve multi-domestic objectives. Those people also have stated that by expanding business at the
international level an enterprise can accelerate the trade practices and business entity can foster
business growth. Customer service is typically the first point of a customer engagement and can be
an important component in standardizing procedures and preventing problems. Resources Dive into
our extensive resources on the topic that interests you. It doesn’t matter how long you’ve been in a
leadership role, there is always something new to learn.